Good news for small businesses that use the low value shipment (LVS) program for North American imports. The Ministers of International Trade and Public Safety along with the United States Department of Homeland Security announced that Canada and the U.S. have increased and harmonized the value thresholds for the LVS to $2,500. This is an increase from the current levels of $1,600 for Canada and $2,000 for the U.S.
The provincial sales tax (PST) will be re-implemented on April 1, 2013, following the results of the 2011 referendum. The return to a PST and GST system in BC is complex and CFIB is lobbying government to ensure the transition for our members goes smoothly.
In response to the call from small business to provide more funding for skills training the BC Government recently announced the Youth Skills BC Workplace Pilot Program. The program is designed to provide participants (eligible youth between 15 and 29 years of age) with the skills that are required to be successful in the labour market.